Avis Budget Group Inc. and Zipcar Inc. completed $525 million in debt financing to fund Avis Budget’s pending acquisition of Zipcar, according to a March 8 press release.

Avis Budget also announced the transaction received regulatory clearance in the UK after the UK Office of Fair Trading determined that Avis Budget's planned acquisition of Zipcar does not qualify for investigation under UK antitrust law. The company has already received U.S. antitrust approval, as well as by Zipcar stockholders.

The companies currently anticipate the acquisition to be completed during the week of March 11, subject to customary closing conditions.

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

An analysis of the conference calls of Avis Budget Group and Hertz Global Holdings reveal trends and initiatives involving fleet right sizing, pricing, ancillary revenue opportunities, and renting to ride-hailing drivers.

Storylines that emerged from the 2018 Work Truck Show include the increasing need for on-site productivity, inclusion of active safety systems in trucks, DPF frustrations affecting product decisions, data management, and the growing link between fleet management and company revenue.

Uber and Lyft drivers make far less when factoring vehicle expenses, though the actual numbers are now in dispute. A proper lifecycle cost analysis would’ve helped, and shows the benefit of collaboration with fleet professionals.